Thursday, December 6, 2012

Waltrip Invests in New Racetrack

The opportunity to be part of the racetrack and automotive-research center being built on the site of Cooper Stadium was just too tempting for NASCAR team owner and driver Michael Waltrip to pass up.Waltrip announced yesterday that he and his racing team will be investors in the Sports Pavilion & Automotive Research Complex, or SPARC, being developed on the stadium site.

“He had me from racetrack,” the two-time Daytona 500 winner said of his initial discussions with Bill Schottenstein, principal of Arshot Investment Corp., developer of the complex. “Having my hands on designing and helping to build a racetrack is very exciting.”

Waltrip and Schottenstein both declined to say how much the team invested.

The SPARC complex will include a half-mile racetrack with 8,500 seats, a 50,000-square-foot office building for the research center, 1,900 parking spaces, a hotel and meeting center, and four or five sites for restaurants or stores along Mound Street. (Columbus Dispatch)